Can the park be a new story for Bubble Mart?The average time spent in the park per capita is 432 hours, the second consumption accounted for 72%, the proportion of derivatives was 5 times that of the store, and the number of visitors to the park in the first month was nearly 100,000 ......Hu Jian, the general manager of Bubble Mart City Park, is quite satisfied with the current situation of the park, and said bluntly in an interview: Since the opening of the park, the passenger flow and turnover have far exceeded expectations.
It has been a while since the opening of Bubble Mart City Park, Hu Jian was interviewed and responded to many doubts in the market: the experience of park facilities is relatively young, whether the park without the support of film and television performances and other content can ensure that it is not decoupled from the IP experience, the reasonableness of ticket pricing, future revenue targets and the opening plan of the next park.
Nearly 100,000 visitors visited the first month.
Match-2 accounted for 72%.
Beijing Business Daily: How is the operation of the park in the first month of its opening, and has it met expectations?
Hu Jian: On September 26 this year, Pop Land, a city park of Bubble Mart, officially opened. In the first month of its opening, Bubble Mart City Park received nearly 100,000 visitors, of which 47% were aged 18-34. The average length of time visitors spend in the park is 432 hours, of which 14:00-16:00 is the peak time of the whole day, and the "Gathering Extravaganza" puppet show staged at 16:00 every day has become a must-see item for most tourists.
The proportion of secondary entertainment in the park reached 72%, mainly from shops and restaurants. The sales proportion of IP derivatives in the park is 5 times that of the stores, and among the top 10 products sold in the park, the SKU of Labubu's single IP is as high as 50%, which is significantly higher than that of the stores, and these data exceed our expectations.
Beijing Business Daily: Bubble Mart started as a retailer, why did you come up with the idea of becoming a paradise?
Hu Jian: The core of our park is to make in-depth content. After the retail and IP operation reaches a certain stage, the medium-term plan of Pop Mart's future business - "one horizontal and one vertical", horizontally is to expand the existing business, especially overseas;The vertical is to make in-depth content and prolong the vitality of IP. The content includes parks, movies and games, and content distribution can feed back the existing business, but it is not easy to do any project, and it requires greater cash flow.
For the commercialization goal, "driving a sheep is also a drive, driving two sheep is also a drive", the park buried a lot of different commercial points, the commercialization idea is in the verification stage, there are plans to make some projects in the park small to within 5000 square meters of projects, restaurants, retail, performing arts in the park have the opportunity to do small.
There is another detail that can also reflect the value and significance of our paradise. Once, I heard two tourists sharing that they only knew the IP of LABUBU, but after watching the performance of LABUBU and hearing its voice, they realized the naughtiness and cuteness of this IP. This also shows that the core of the park is to hope that there can be an emotional connection between IP and consumers.
Catering to customers of all ages.
In the future, we will increase investment in software and hardware.
Beijing Business Daily: On social platforms, there are voices questioning the overpricing of park tickets, how does Pop Mart view this question?
Hu Jian: From a commercial point of view, the investment in the park project is not low, and we have launched the ** ticket price through specific valuesIt also made a horizontal comparison with other amusement parks in Beijing to further measure the reasonableness of **. After the test, we made adjustments to add a free passport and a paid game voucher to the original ticket price, which were originally paid items.
If the park wants to continue to operate positively, it also needs to increase investment, increase the density of cast and crew, increase the frequency of performances, improve the quality of performances, and increase the face value. In the future, some amusement equipment will be added, but it will take some time.
Beijing Business Daily: Judging from the feedback, the current audience suitable for the park is low in age and lack of playability, but the main customer group for Pop Mart is women aged 18-34
Hu Jian: Judging from the data of the first month, the proportion of tourists aged 18-34 has reached 47%. When we made the decision early on, it was also clear that the first wave of users of the park were fans. It is true that due to the external conditions of the urban renewal project, the park is not paved with heavy equipment, which does reduce the playability, but the original planning and design of the park is not just for children, but for visitors of all ages with childlike innocence, all ages can be, but it is not so exciting. An exclusive play area is created for children, which is also considered to ensure the experience of young customers and parent-child customers.
In fact, the park is aimed at people of all ages, children and adults, and we want to anchor those who have a childlike heart. We also hope that, in addition to fans, we can attract more pan-users, show the charm of IP with dynamic performances of "puppet costumes", and enhance the popularity of IP through the operation of the park. In the future, as long as there is the right space and conditions, we hope to add more interesting content.
Look at the content in the medium to long term.
We will not rush to open a new park.
Beijing Business Daily: What is the next step in the operation of the park?
Hu Jian: With the arrival of winter in the north, we really feel the challenges faced by the northern park in winter, the peaks and troughs of the cultural tourism industry are relatively obvious, and the decrease in temperature has reduced the passenger flow to a certain extent, and it is difficult to carry out outdoor activities. The core solution is to rely on the activity atmosphere of solar terms to do differentiated operations.
The core point of the park project is to create an emotional connection between IP and consumers. Regarding the medium- and long-term planning of the park, we have two directions: bigger and smaller.
To be bigger, Pop Mart hopes to make a comprehensive large-scale park covering all ages in the future, which is our long-term goalTo be small, it is to test different business attempts in a park of less than 5,000 square meters, including retail, restaurants, children's playgrounds, etc., to empower the business of Pop Mart from these fields.
As for when the next park will land, we don't have a clear timeline, and the next park will be launched only after the iteration is completed.
Beijing Business Daily: Consumers have many expectations for the story behind the IP, how will Pop Mart advance next in terms of content?
Hu Jian: At this stage, if the park wants to run through, it needs to devote more energy to content creation, and it is necessary to continue to deepen the content.
Content planning is very important for parks, but it's also something that the entire company needs to do. The park is only a comprehensive embodiment of the content and external export, and it is a very important part of the medium and long-term planning of Bubble Mart.
Regarding the integration of content and park experience, we initially thought that a park must have a deep story line to become a good park, but as we learned more, we found that the strength of the content and the number of visitors may not need to be strongly linked, and the deeper logic is to make an emotional connection. The outer layer is the story, and the core is the emotional connection.
Beijing Business Daily reporter Zhao Shudian Hu Jingrong.
*: Beijing Business Daily].
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